As a forex trader, one of the things you need to consider when choosing a broker is the commission charged on trades. Tallinex is a forex broker that offers excellent trading conditions and competitive commission rates, making it an ideal choice for traders looking for a reliable and affordable broker.
Tallinex is an offshore forex broker based in St. Vincent and the Grenadines, but it is regulated by the Financial Services Authority (FSA) of Seychelles. The broker was established in 2012 and has since grown to become a popular choice among forex traders. It offers trading in forex, commodities, and indices, with leverage up to 1:1000 and spreads as low as 0 pips.
One of the standout features of Tallinex is its commission structure. The broker charges a commission on each trade, but the commission rates are among the lowest in the industry. The commission charged depends on the account type and the trading volume of the client.
For example, the commission rate for the ECN-MICRO account is $6 per lot, while the commission rate for the ECN-PRO account is $4 per lot. The ECN-MICRO account is designed for traders who want to trade with smaller lot sizes, while the ECN-PRO account is for professional traders who trade with larger lot sizes.
The commission rates for both accounts are very competitive and can help traders save a significant amount of money on trading costs. For instance, if a trader opens a position with one lot on the EUR/USD currency pair, which is the most popular forex pair, they will pay a commission of $6 or $4, depending on the account type. This is much lower than what most other brokers charge.
In addition to the low commission rates, Tallinex also offers an IB (Introducing Broker) program that allows traders to earn commissions by referring new clients to the broker. The IB program is designed for individuals and companies who want to earn extra income by introducing new clients to Tallinex.
Under the IB program, the referring party earns a commission on the trading volume of the clients they refer. The commission amount depends on the account type of the referred client and the trading volume generated by the client. For example, an IB who refers a client with an ECN-MICRO account can earn up to $2 per lot traded by the referred client.
The IB program is an excellent opportunity for traders to earn extra income without having to trade themselves. It is also an excellent way for the broker to attract new clients and expand its customer base.
To become an IB with Tallinex, traders need to register for the program and follow the guidelines provided by the broker. The registration process is straightforward, and once approved, the IB can start promoting Tallinex and earning commissions on referred clients.
In conclusion, Tallinex is a forex broker that offers competitive commission rates and an attractive IB program. The broker’s low commission rates can help traders save money on trading costs, while the IB program can help them earn extra income. Tallinex is a reliable and reputable broker that provides excellent trading conditions and is worth considering for any forex trader looking for a broker with low commission rates and an attractive IB program.
